Utah home sales are going up and prices are going down, both great indicators for the future of our economy and potential home buyers. Take a look closer look at the successful housing industry. Source: utahrealtors.com
The Utah Association of Realtors reported that nearly 33,000 homes were sold last year.
Sales were up 8.6 percent from 2010, 5 percent above 2009, and 6 percent above 2008.
Utah home sales are up for the eighth month in a row.
The National Association of Home Builders (NAHB)includes both cities on its Improving Markets Index.
According to the NAHB, Salt Lake home-building permits have grown 2.3 percent since 2009.
Provo building permits have increased 2.7 percent according to the same report.
In the twelve months ending with January 2012, homes priced under $150,000 accounted for 39 percent of all home sales.
The median price of a Utah home in January 2012 was $166,000, down 7 percent from a year ago.
Closed sales every January the past four Januaries:
Jan. 2009: 1,374
Jan. 2010: 1,611
Jan. 2011: 1,866
Jan. 2012: 2,008
Left: NASA photo of Wasatch range.
In January 2011, there were 576 homes sold in Salt Lake County.
In January 2012, 748 homes were sold in the same county.
left: Old street plans for Salt Lake City.